Occam Crest Management LP Invests $3.08 Million in Eightco Holdings Inc. $ORBS

Occam Crest Management LP purchased a new position in shares of Eightco Holdings Inc. (NASDAQ:ORBS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,780,822 shares of the company’s stock, valued at approximately $3,081,000. Eightco accounts for approximately 2.1% of Occam Crest Management LP’s investment portfolio, making the stock its 17th biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PEAK6 LLC acquired a new position in Eightco during the fourth quarter worth $26,000. LPL Financial LLC acquired a new position in shares of Eightco in the fourth quarter worth $28,000. Monograph Wealth Advisors LLC purchased a new stake in shares of Eightco in the fourth quarter valued at $33,000. Barclays PLC acquired a new stake in shares of Eightco during the fourth quarter valued at $33,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in Eightco in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 12.85% of the company’s stock.

Eightco Trading Up 19.5%

Shares of Eightco stock opened at $1.05 on Tuesday. The business’s fifty day moving average price is $0.91 and its 200 day moving average price is $1.35. Eightco Holdings Inc. has a twelve month low of $0.72 and a twelve month high of $83.12. The stock has a market capitalization of $407.41 million, a P/E ratio of -1.78 and a beta of 2.03.

Eightco (NASDAQ:ORBS) last announced its quarterly earnings results on Wednesday, April 15th. The company reported ($2.39) EPS for the quarter. The firm had revenue of $10.19 million for the quarter. Eightco had a negative return on equity of 111.48% and a negative net margin of 1,095.69%.

Insider Activity

In other Eightco news, CEO Kevin J. O’donnell bought 200,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $0.92 per share, with a total value of $184,000.00. Following the transaction, the chief executive officer owned 1,246,485 shares in the company, valued at $1,146,766.20. This trade represents a 19.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ORBS. Wall Street Zen raised shares of Eightco from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Eightco in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Eightco Profile

Eightco Holdings Inc provides bitcoin mining equipment and co-location services. It also manufactures and sells container boards, corrugated products, and specialty paper products in North America. The company was incorporated in 1966 and is headquartered in Safety Harbor, Florida.